Common use of Landlord’s Defaults Clause in Contracts

Landlord’s Defaults. Tenant hereby agrees that, if Tenant provides Landlord with any notice of default or claimed default on the part of Landlord under the Lease, Tenant shall concurrently therewith send a copy of such notice to Ground Lessor. In such event, Ground Lessor shall be permitted (but not obligated) to cure any such default within the period of time allotted thereto in the Lease. If Landlord shall fail to cure such default within the period of time allocated thereto in the Lease (or, if Landlord shall not within such time period have commenced diligent efforts to remedy a default that cannot be fully cured within such time period) then Tenant shall provide Ground Lessor with notice of such failure. Upon receipt of such notice of Landlord’s failure to cure, Ground Lessor shall be granted an additional thirty (30) days during which it shall be permitted (but not obligated) to cure such default. In the case of a default, which cannot with diligence be remedied by Ground Lessor within thirty (30) days, Ground Lessor shall have such additional period of time as may be reasonably necessary in order for Ground Lessor to remedy such default with diligence and continuity of effort, provided that Ground Lessor has commenced to cure such default within such thirty (30) day period.

Appears in 3 contracts

Samples: Lease (Agios Pharmaceuticals Inc), Sublease Agreement (Immunogen Inc), Sublease Agreement (Aveo Pharmaceuticals Inc)

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Landlord’s Defaults. Subject to the provisions set forth below in this subsection 20.2 requiring Tenant hereby agrees that, if Tenant provides to give to Landlord with any written notice of Landlord 's default or claimed default on the part of Landlord under the Lease, Tenant shall concurrently therewith send a copy of such notice to Ground Lessor. In such event, Ground Lessor shall be permitted (but not obligated) to cure any such default within the period of time allotted thereto in the Lease. If Landlord shall fail and an opportunity to cure such default within the period of time allocated (but not subject thereto in the Lease (orevent of an emergency of which Tenant promptly thereafter shall notify Landlord), if Landlord shall not within such time period have commenced diligent efforts to remedy a be in material default that canin the performance of any of its obligations hereunder, Tenant may (but shall not be fully cured within obligated to do so), in addition to any other rights it may have in law or equity or under this Lease, reasonably cure such time period) then default on behalf of Landlord, and Landlord shall reimburse Tenant upon demand for any reasonable sums paid or costs incurred by Tenant in reasonably curing such default. Notwithstanding anything hereinabove stated and except for emergency situations (of which Tenant shall provide Ground Lessor with notify Landlord in any event), Tenant agrees that Tenant will not exercise any right or remedy provided for in this Lease or allowed by law because of any default by Landlord, unless Tenant shall have first given written notice thereof to Landlord, and Landlord, within a period of such failure. Upon receipt of such notice of Landlord’s failure to cure, Ground Lessor shall be granted an additional thirty (30) days during which it thereafter shall be permitted (but not obligated) have failed to cure such default. In correct the case of a default, which or if in the reasonable judgment of the Tenant such default cannot with diligence be remedied by Ground Lessor corrected within thirty (30) days, Ground Lessor shall have such additional period Landlord failed to actively and diligently in good faith proceed with and continue the correction of time as may be reasonably necessary in order for Ground Lessor to remedy such the default with diligence and continuity of effort, provided that Ground Lessor has commenced to cure such default within such thirty (30) day perioduntil fully corrected.

Appears in 1 contract

Samples: Lease Agreement (Dialysis Corp of America)

Landlord’s Defaults. Tenant hereby agrees that, if Tenant provides Landlord with any notice of default or claimed default on the part of Landlord under the Lease, Tenant shall concurrently therewith send a copy of such notice to Ground Lessor. In such event, Ground Lessor shall be permitted (but not obligated) to cure any such default within the period of time allotted thereto in the Lease. If Landlord shall fail to cure such default within the period of time allocated thereto in the Lease (or, if Landlord shall not within such time period have commenced diligent efforts to remedy a default that cannot be fully cured within such time period) then Tenant shall provide Ground Lessor with notice of such failure. Upon receipt of such notice of Landlord’s 's failure to cure, Ground Lessor shall be granted an additional thirty (30) days during which it shall be permitted (but not obligated) to cure such default. In the case of a default, which cannot with diligence be remedied by Ground Lessor within thirty (30) days, Ground Lessor shall have such additional period of time as may be reasonably necessary in order for Ground Lessor to remedy such default with diligence and continuity of effort, provided that Ground Lessor has commenced to cure such default within such thirty (30) day period.

Appears in 1 contract

Samples: Non Disturbance Agreement (Alkermes Inc)

Landlord’s Defaults. Tenant hereby agrees that, if Tenant provides Landlord with any notice of default or claimed default on the part of Landlord under the Lease, Tenant shall concurrently therewith send a copy of such notice to Ground Lessor. In such event, Ground Lessor shall be permitted (but not obligated) to cure any such default within the period of time allotted thereto in the Lease. If Landlord landlord shall fail to cure such default within the time period of time allocated thereto in the Lease (or, or if Landlord shall not within such time period have commenced diligent efforts to remedy a default that cannot be fully cured within such time period) then Tenant shall provide Ground Lessor with notice of such failure. Upon receipt of such notice of Landlord’s failure to cure, Ground Lessor shall be granted an additional thirty (30) days during which it shall be permitted (but not obligated) to cure such default. In the case of a default, default which cannot with diligence be remedied cured by Ground Lessor within thirty (30) days, Ground Lessor shall have such additional period of time as may be reasonably necessary in order for Ground Lessor to remedy such default with diligence and continuity of effort, provided that Ground Lessor has commenced to cure such default within such thirty (30) day period.

Appears in 1 contract

Samples: Non Disturbance Agreement (Blueprint Medicines Corp)

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Landlord’s Defaults. Tenant hereby agrees that, if Tenant provides Landlord with any notice of default or claimed default on the part of Landlord under the Lease, Tenant shall concurrently therewith send a copy of such notice to Ground Lessor. In such event, Ground Lessor shall be permitted (but not obligated) to cure any such default within the period of time allotted thereto in the Lease. If Landlord shall fail to cure such default within the period of time allocated thereto in the Lease (or, if Landlord shall not within such time period have commenced diligent efforts to remedy a default that cannot be fully cured within such time period) then Tenant shall provide Ground Lessor with notice of such failure. Upon receipt of such notice of Landlord’s failure to cure, Ground Lessor shall be granted an additional thirty (30) days during which it shall be permitted (but not obligated) to cure such default. In the case of a default, which cannot with diligence be remedied by Ground Lessor within thirty (30) days, Ground Lessor shall have such additional period of time as may be reasonably necessary in order for Ground Lessor to remedy such default with diligence and continuity of effort, provided that Ground Lessor has commenced to cure such default within such thirty (30) day periodperiod and completes such cure within an additional thirty (30) days thereafter, subject to delays that are not within the reasonable control of Ground Lessor.

Appears in 1 contract

Samples: Disturbance Agreement (Beam Therapeutics Inc.)

Landlord’s Defaults. Landlord shall have a period of thirty (30) days from the date of written notice from Tenant hereby within which to cure any default under this Lease; provided, however, that with respect to any default that cannot reasonably be cured within thirty (30) days, the default shall not be deemed to be uncured if Landlord commences to cure within thirty (30) days from Tenant’s notice and continues to prosecute diligently the curing thereof. Tenant agrees thatto give any Mortgagee, if Tenant provides Landlord with by Registered Mail, a copy of any notice of default served upon the Landlord, provided that prior to such notice Tenant has been notified in writing (by way of Notice of Assignment of Rents and Leases, or claimed default on otherwise) of the part of Landlord under the Lease, Tenant shall concurrently therewith send a copy address of such notice to Ground LessorMortgagee. In such event, Ground Lessor shall be permitted (but not obligated) to cure any such default within the period of time allotted thereto in the Lease. If Tenant further agrees that if Landlord shall fail have failed to cure such default within the period of time allocated thereto provided for in this Lease, then the Lease (or, if Landlord Mortgagee shall not within such time period have commenced diligent efforts to remedy a default that cannot be fully cured within such time period) then Tenant shall provide Ground Lessor with notice of such failure. Upon receipt of such notice of Landlord’s failure to cure, Ground Lessor shall be granted an additional thirty (30) days during within which it shall be permitted (but not obligated) to cure such default. In the case of a default, which default or if such default cannot with diligence be remedied by Ground Lessor cured within thirty (30) daysthat time, Ground Lessor shall have then such additional period of time as may be reasonably necessary in order for Ground Lessor to remedy such default with diligence and continuity of effort, provided that Ground Lessor has commenced to cure such default shall be granted if within such thirty applicable period Mortgagee has commenced pursuing the remedies necessary to cure such default (30including commencement of foreclosure proceedings, if necessary to effect such cure) day periodand thereafter diligently and in good faith pursues such remedies to completion (in which event this Lease shall not be terminated while such remedies are being so diligently pursued).

Appears in 1 contract

Samples: Sublease Agreement (PubMatic, Inc.)

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